Comments on: Toward Financial Independencehttp://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/
Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more.Sun, 02 Aug 2015 19:36:33 +0000hourly1http://wordpress.org/?v=3.0.1By: The pursuit of passive income: Is it time to become a landlord? | Money Tips Dailyhttp://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/comment-page-1/#comment-3671591
The pursuit of passive income: Is it time to become a landlord? | Money Tips DailyWed, 21 May 2014 22:00:48 +0000http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-3671591[...] put into it. And that’s why the idea of passive income has always been so popular. J.D. even wrote about passive income back in 2006, which seems like a lifetime ago. “Passive Income is money that you earn without having to [...][...] put into it. And that’s why the idea of passive income has always been so popular. J.D. even wrote about passive income back in 2006, which seems like a lifetime ago. “Passive Income is money that you earn without having to [...]

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]]>By: Derrick E Smithhttp://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/comment-page-1/#comment-233741
Derrick E SmithTue, 09 Feb 2010 16:15:40 +0000http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-233741Hello, I am a single male with an identical twin brother who is also single. We have no families of our own yet and we are constantly talking about investing. We have all the time to go into some type of business deal. We are poor, we know hardly ANYTHING about investing and how to make money work. We anxiously want and need a passive income of some kind. I guess what I am asking for is for somebody out there to help me with information as to how a poor guy with no money can get a great start to becoming financially independent. I am desperate for some type of information as to how we can make our lives change for the better. Please if anyone knows where I may go or know where to send me for this information, I would so greatly appreciate it. Thanks.Hello, I am a single male with an identical twin brother who is also single. We have no families of our own yet and we are constantly talking about investing. We have all the time to go into some type of business deal. We are poor, we know hardly ANYTHING about investing and how to make money work. We anxiously want and need a passive income of some kind. I guess what I am asking for is for somebody out there to help me with information as to how a poor guy with no money can get a great start to becoming financially independent. I am desperate for some type of information as to how we can make our lives change for the better. Please if anyone knows where I may go or know where to send me for this information, I would so greatly appreciate it. Thanks.

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]]>By: HIBhttp://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/comment-page-1/#comment-137646
HIBTue, 24 Jun 2008 21:23:14 +0000http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-137646@Nona
I agree that owning a business is a damn good idea. I am refuting the comment made about real estate investing. I must first admit that I am biased towards real estate investing since I'm a real estate investor. I would make the case that while real estate investing is not passive to a novice, there are many ways that you can become a real estate investor and have very close to passive income. You can do this without trading your job for another job as would be the case in owning a business (I assume traditional store front business). As a real estate investor, you are able to have many properties under your belt and cash flow permitting, turn it over to a property manager. There are also other ways such as being a passive partner in a real estate deal. Mortgage brokers that deal with real estate investors would be a good source. You could also invest in real estate notes (i.e. you are the bank).
Cheers!@Nona

I agree that owning a business is a damn good idea. I am refuting the comment made about real estate investing. I must first admit that I am biased towards real estate investing since I’m a real estate investor. I would make the case that while real estate investing is not passive to a novice, there are many ways that you can become a real estate investor and have very close to passive income. You can do this without trading your job for another job as would be the case in owning a business (I assume traditional store front business). As a real estate investor, you are able to have many properties under your belt and cash flow permitting, turn it over to a property manager. There are also other ways such as being a passive partner in a real estate deal. Mortgage brokers that deal with real estate investors would be a good source. You could also invest in real estate notes (i.e. you are the bank).

Cheers!

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]]>By: Nonahttp://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/comment-page-1/#comment-4763
NonaWed, 02 Aug 2006 08:22:51 +0000http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-4763But a lot of passive income depends on having other people at the bottom of the pile. Rental property works mostly when there are others who cannot afford their own property, plus it drives up the price of housing too (everyone with a bit of spare cash doing the buy-to-let route, at least in the UK). The pressure on companies to deliver dividends and growth means they often use suppliers in poorer countries and pay a pitiful wage. Even if they don't, they still rely on workers who are prepared to work for less. Business ownership though, that's a damn good idea and one more people should go for. I did it 4 years ago and, even without taking a wage for the first year I still cannot express how much my life has improved.But a lot of passive income depends on having other people at the bottom of the pile. Rental property works mostly when there are others who cannot afford their own property, plus it drives up the price of housing too (everyone with a bit of spare cash doing the buy-to-let route, at least in the UK). The pressure on companies to deliver dividends and growth means they often use suppliers in poorer countries and pay a pitiful wage. Even if they don’t, they still rely on workers who are prepared to work for less. Business ownership though, that’s a damn good idea and one more people should go for. I did it 4 years ago and, even without taking a wage for the first year I still cannot express how much my life has improved.

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]]>By: Money Matadorhttp://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/comment-page-1/#comment-2913
Money MatadorTue, 18 Jul 2006 02:09:42 +0000http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2913I love passive income. You can get addicted to it. People who get filthy rich as young do not retire, they are independendt and can live their own life. In a way it is badmouthing them to say that they have retired. They just managed to escape the rat race.
Great post" See you soon.I love passive income. You can get addicted to it. People who get filthy rich as young do not retire, they are independendt and can live their own life. In a way it is badmouthing them to say that they have retired. They just managed to escape the rat race.

Great post” See you soon.

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]]>By: J.D.http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/comment-page-1/#comment-2862
J.D.Mon, 17 Jul 2006 18:00:52 +0000http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2862Fixed. Thanks, Dave! I made that mistake the other day, too. My wife says that I must be obsessed with "Small Pig"...Fixed. Thanks, Dave! I made that mistake the other day, too. My wife says that I must be obsessed with “Small Pig”…